Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 9 February.

INSIGHT: Europe gets gas cost relief but poor demand, overcapacity weigh heavy
With natural gas prices potentially falling towards pre-Russia-Ukraine war levels and possibly below, European chemical manufacturers may soon be rid of the competitive cost disadvantage which has dogged them for several years.

Europe TiO2 market relaxed about Venator Duisburg closure, longer term impact to be assessed
Reaction to Venator’s imminent closure of its standard TiO2 Duisburg, Germany plant is muted so far, as it had been widely expected for some time and underlying demand remains fragile.

Europe toluene demand forecasts better than those for downstream markets and TDI
After a slow start for toluene bulk demand and that of toluene diisocyanate (TDI) along with major end user sectors in Europe downstream in 2024, sentiment is more bullish for the former market versus the latter two.

Germany chemical production falls to lowest level since 1995
Germany’s chemical production fell 10.6% in 2023, dropping to its lowest level since 1995, the country’s federal statistics agency said.

Eurozone construction sees sharpest decline since mid-2020 in January
The eurozone construction sector remained in contraction territory in January, with conditions chilling further during the month on the back of weak demand and declines across key markets, with little sign of recovery this year.

European PE/PP spot prices continue to rise as contract offers in triple digits
European spot polyethylene (PE) and polypropylene (PP) prices are still on an uptrend this week, while February contract offers have been made in the triple digits.